Larry Downey, senior director with Cushman & Wakefield'sArizona office, tells GlobeSt.com that National Bank of Arizona'spurchase of Pulte's former home in the Del Webb building at North24th St. in Phoenix sparked a yearlong search for newaccommodations that ended in a 10-year lease at the Papago ButtesCorporate Plaza. The company expects to move into the building inJune 2003.

The $6.5-million deal will give the area builder a modernfacility with upgraded technology and amenities, says Downey. "Notonly does it have a lot of onsite amenities," he explains of the1230 W. Washington St. plaza, "but it has a lot of internal cablingand other capabilities that will work well for their type ofuse."

The 160,000-sf office facility, the second phase of amulti-building office development owned by Tosco, is primarilyoccupied by Conoco Phillips. Other tenants include State FarmInsurance and Tectura Corp. About 80,000 sf remains up for lease inthe building, where the going rate goes from $22.50 per sf to$23.50 per sf.

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